With a Mirfin property valuation in hand, you will be in a position to confidently contest your municipal rates, sell or let your property, or simply enjoy the peace of mind that comes with knowing you are adequately insured.

Our services include:

Market price valuations: Determine a fair market value for your property useful for all critical transactions for which it may be required.

Candidate Valuer (may only work under the supervision and control of a PV or PAV)

Our highly experienced valuers all hold a National Diploma in Real Estate / Property Valuation (as a minimum) and are certified by the South African Council for the Property Valuers Profession (SACPVP).

We adhere to the highest ethical standards and all valuations are treated with the utmost discretion and confidentiality, in accordance with our privacy policy.

The automated valuation model (AVM) is a property valuation service that applies mathematical modelling to a database to calculate a property’s value by analysing historical price movements of comparable properties.

While AVM valuations cost less and provide a more immediate result, this service inherently suffers some crucial disadvantages:

AVM does not take into account a property's actual condition (i.e. state of repair, renovations etc.)

AVM assumes an average condition which may not reflect reality

Often there are few comparable properties and little historical data available

Comparable data for newly-built properties is scarce

Data sources may be unreliable due to concealed incentives in recorded sales prices

AVM does not always reflect current market conditions as the input of transactional data often lags behind real time

AVM does not work well with community schemes as aspect (e.g. north-facing) and location within the scheme can have a significant effect on value

AVM is wholly unsuitable for replacement cost valuations as these require a physical inspection

A market price valuation determines the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.

Determining fair market value is helpful when buying, selling or letting a property, or when handling a deceased estate or divorce settlement.

The Cost approach values a property on the basis of what it would cost to build the property today, taking into consideration the depreciation by various factors.

The Income Capitalisation approach considers the value of the income stream that a property generates or could generate. This method typically applies to commercial or income-generating properties.

The Comparable Sales approach entails the analysis of recent comparable sales of physically and legally similar properties in the general vicinity of the subject property. This method typically applies to single family homes and land.

The valuer selects which approach - or combination of them - would be most suitable for determining fair market value, depending on the location and intended use of the property.

Also known as estimated new replacement cost, this determines a property's insurance value. This means the cost of replacing the building and all other permanent improvements that constitute the property - as if new - at prices applicable on the valuation date.

Also included are the reasonable costs incurred as a result of damage. These include limiting the extent of damage, fire brigade charges, architects, quantity surveyors, consulting engineer fees, demolition, construction and complying with the requirements of any local or regional authority. Excluded are earthen walls, earthen driveways or earthen structures, plants, trees, dam walls, piers, jetties, bridges and culverts, as well as financing fees and loss of revenue, e.g. when letting the damaged property.

Replacement cost is estimated by researching the current construction cost in the locality, as construction costs can differ vastly between geographical locations. It is assumed tenders are called for from suitable contractors and impartially awarded.

Apart from the cost of construction, the building rate per square metre includes the cost of additional building services such as electrical installations, electronic installations and fire protection installations. The valuer will quantify costs for site improvements, demolition and rubble removal, professional fees, Value Added Tax (VAT) and any future escalation separately.

With a Mirfin property valuation in hand, you will be in a position to confidently contest your municipal rates, sell or let your property, or simply enjoy the peace of mind that comes with knowing you are adequately insured.

Our services include:

Market price valuations: Determine a fair market value for your property useful for all critical transactions for which it may be required.

Candidate Valuer (may only work under the supervision and control of a PV or PAV)

Our highly experienced valuers all hold a National Diploma in Real Estate / Property Valuation (as a minimum) and are certified by the South African Council for the Property Valuers Profession (SACPVP).

We adhere to the highest ethical standards and all valuations are treated with the utmost discretion and confidentiality, in accordance with our privacy policy.

The automated valuation model (AVM) is a property valuation service that applies mathematical modelling to a database to calculate a property’s value by analysing historical price movements of comparable properties.

While AVM valuations cost less and provide a more immediate result, this service inherently suffers some crucial disadvantages:

AVM does not take into account a property's actual condition (i.e. state of repair, renovations etc.)

AVM assumes an average condition which may not reflect reality

Often there are few comparable properties and little historical data available

Comparable data for newly-built properties is scarce

Data sources may be unreliable due to concealed incentives in recorded sales prices

AVM does not always reflect current market conditions as the input of transactional data often lags behind real time

AVM does not work well with community schemes as aspect (e.g. north-facing) and location within the scheme can have a significant effect on value

AVM is wholly unsuitable for replacement cost valuations as these require a physical inspection

A market price valuation determines the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.

Determining fair market value is helpful when buying, selling or letting a property, or when handling a deceased estate or divorce settlement.

The Cost approach values a property on the basis of what it would cost to build the property today, taking into consideration the depreciation by various factors.

The Income Capitalisation approach considers the value of the income stream that a property generates or could generate. This method typically applies to commercial or income-generating properties.

The Comparable Sales approach entails the analysis of recent comparable sales of physically and legally similar properties in the general vicinity of the subject property. This method typically applies to single family homes and land.

The valuer selects which approach - or combination of them - would be most suitable for determining fair market value, depending on the location and intended use of the property.

Also known as estimated new replacement cost, this determines a property's insurance value. This means the cost of replacing the building and all other permanent improvements that constitute the property - as if new - at prices applicable on the valuation date.

Also included are the reasonable costs incurred as a result of damage. These include limiting the extent of damage, fire brigade charges, architects, quantity surveyors, consulting engineer fees, demolition, construction and complying with the requirements of any local or regional authority. Excluded are earthen walls, earthen driveways or earthen structures, plants, trees, dam walls, piers, jetties, bridges and culverts, as well as financing fees and loss of revenue, e.g. when letting the damaged property.

Replacement cost is estimated by researching the current construction cost in the locality, as construction costs can differ vastly between geographical locations. It is assumed tenders are called for from suitable contractors and impartially awarded.

Apart from the cost of construction, the building rate per square metre includes the cost of additional building services such as electrical installations, electronic installations and fire protection installations. The valuer will quantify costs for site improvements, demolition and rubble removal, professional fees, Value Added Tax (VAT) and any future escalation separately.